Shih Samuel Chun Kong 4

What Happened

• Samuel Chun Kong Shih, a director of DDC Enterprise Ltd (DDC), exercised in‑the‑money warrants on two dates. On Mar 20, 2026 he exercised 33,333 warrants at $0.16; after a cashless settlement he received 31,838 Class A shares (recorded value ~$5,094). On Apr 28, 2026 he exercised another 33,333 warrants at $0.16 and received 31,111 shares (recorded value ~$4,978). The filings show the underlying warrants were surrendered (reported as derivative dispositions) as part of these exercises.

Key Details

• Transaction dates & terms:
  • Mar 20, 2026 — exercised 33,333 warrants; net issued 31,838 shares @ $0.16; consideration shown ~$5,094 (cashless exercise). (Footnote F1)
  • Apr 28, 2026 — exercised 33,333 warrants; net issued 31,111 shares @ $0.16; consideration shown ~$4,978 (cashless exercise). (Footnote F2)
• Filing: Form 4 filed Apr 30, 2026 (Accession 0001213900-26-049706). The Mar 20 transaction was not reported within the typical 2‑business‑day window and appears late; the Apr 28 transaction was reported within the same filing.
• Shares owned after transaction: not specified in the information provided in this summary.
• Footnotes: Both exercises were cashless (the reporting person surrendered warrants and received a net share issuance rather than paying cash).

Context

• These were derivative exercises (warrants) converted into shares via cashless settlement — meaning the holder surrendered a portion of the economic value to cover the exercise price and fees and received the net shares.
• Cashless exercises result in net share issuances to the insider rather than an open‑market purchase or sale; they do not by themselves indicate a buy/sell opinion by the insider beyond exercising vested rights.